Wealthfront Advisers LLC Makes New $2.16 Million Investment in PPG Industries, Inc. $PPG

Key Points

• Wealthfront Advisers acquired 17,834 shares of PPG Industries in the second quarter, representing an investment of approximately $2.16 million. Institutional investors collectively own 81.86% of PPG’s outstanding stock.
• Analysts have a mixed outlook, with seven Buy ratings and ten Hold ratings. The consensus rating is Hold, with an average price target of $126.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, though earnings of $2.23 per share narrowly missed estimates. The company also raised its quarterly dividend to $0.74 per share, implying a 2.6% annual yield.

Wealthfront Advisers LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 17,834 shares of the specialty chemicals company's stock, valued at approximately $2,163,000.

A number of other institutional investors have also recently made changes to their positions in PPG. Meeder Asset Management Inc. purchased a new stake in shares of PPG Industries in the second quarter worth about $26,000. Resources Management Corp CT ADV grew its holdings in PPG Industries by 900.0% during the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 225 shares in the last quarter. Quarry LP bought a new stake in PPG Industries in the 3rd quarter worth approximately $26,000. Aster Capital Management DIFC Ltd bought a new stake in PPG Industries in the 4th quarter worth approximately $30,000. Finally, Essential Partners LLC raised its holdings in shares of PPG Industries by 59.3% during the 1st quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BMO Capital Markets lowered their target price on PPG Industries from $140.00 to $138.00 and set an "outperform" rating for the company in a research report on Monday, July 6th. BNP Paribas Exane upped their price target on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Royal Bank Of Canada dropped their price objective on shares of PPG Industries from $129.00 to $122.00 and set a "sector perform" rating for the company in a research note on Thursday, July 30th. Finally, Bank of America upgraded shares of PPG Industries from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $127.00 to $134.00 in a report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $126.00.

PPG Industries Stock Performance

NYSE PPG opened at $112.53 on Friday. The company has a market cap of $25.02 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The business's 50 day moving average price is $117.42 and its 200-day moving average price is $114.01. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.02). The company had revenue of $4.50 billion for the quarter, compared to analysts' expectations of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be issued a $0.74 dividend. This is a boost from PPG Industries's previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. PPG Industries's dividend payout ratio (DPR) is 42.41%.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG's product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source